Company Registration- A Practical Approach

Formation of a company

As per company Act, 2013 a company may be formed with any lawful purposes by:

1. One person, in case of One Person Company as (OPC) private limited; or
2. Two or more person in case of Private company; or
3. Seven or more person in case of Public company;

The word ‘Person’ is not defined in the act but, both natural or/and juristic person can be subscriber of the company. For OPC it is mandatory to have a natural person who is resident in India to act as subscriber.  However, in case of private company there is no restrictions that subscriber should be only Indian resident. It means a non-resident can also be subscriber subject to certain condition.

Further, Liability of a company may be either limited or unlimited. In case of limited liability, liability of members can be restricted to the extent of amount of share or guarantee as mentioned in the memorandum of the company. It can be identified by word ‘limited’ used after the name of company. However, for unlimited company; each member is responsible for liabilities of the company. The liability of company shall remain unchanged even after conversion of such company into limited liability Company.

Incorporation of Company- Practical Approach

The application in Form-Spice+ shall be made to the registrar of company with below mentioned documents:

Web form SPICe+ is a web based application for incorporation of company in one go. Using this form 10 types of registration can be obtained. This form is divided in two parts Part A & Part B.

Part A of Spice+

Part A of the form is used for name approval and incorporation together. If it seems any suspicion regarding availability of name, part A can only be filed and Part B after receiving name approval letter.

Part B of Spice+

Part B of the form can be filed only after filing of PART-A of the form. This form actually contains all the relevant information and attachments required for incorporation of the company. It can be used for allotment of director Identification Number (DIN), incorporation certificate, PAN and TAN.

The following attachments required for filing of incorporation of company:

• PAN of the Directors
• ID Proof (Voter ID/ Driving licence/ Passport)
• Address Proof (Bank Statement/ Telephone Bill/ other Utility Bills)
• Address Proof of business address (Electricity Bill or utility bill)
• Rent or Lease agreement for business address proof
• No objection certificate for business address
• Any other attachment subject to requirement

AGILE- PRO-S

As the name suggests AGILE-PRO stands for Application for Goods and services tax Identification number, employees state Insurance corporation registration pLus Employees provident fund organisation registration, Profession tax Registration, Opening of bank account and Shops and Establishment Registration Number out.

It means this form can be used for

• GST registration,
• ESIC registration,
• EPF registration,
• Professional tax registration,
• Opening of current account with Bank and
• Shop establishment registration.

Post submission of the above mentioned part of the form e-MOA will be generated that can be modified according to the objects of the    company. Similarly, e-AOA can be modified and submitted. After that these form can be downloaded along with INC-9 and digitally signed to make final upload on the MCA portal.

If the information furnished in the spice+ is correct then the registrar of company may issue incorporation certificate bearing Corporate Identity Number (CIN).